Govt seeks monthly price reports after GST rate cuts from September 22

This move follows the government’s significant GST overhaul, effective from September 22, which reduced tax rates on nearly 400 items. Under the new structure, most goods will now fall under two tax slabs—5 percent and 18 percent —while luxury and sin goods will attract a 40 percent rate.

In addition to the monthly reporting requirement, businesses are mandated to display the revised price lists for consumer durables, automobiles, and other products on the official GST portal before the September 22 deadline. This measure aims to enhance transparency and enable consumers to understand the exact price reductions they are entitled to following the GST rate cuts.

Retail market experts say that the government’s proactive steps underline its focus on protecting consumer interests, ensuring transparency in pricing, and maintaining market stability as the new GST regime takes effect.